Written Commentary
MORNING LIVESTOCK FUTURES OUTLOOK
CATTLE COMPLEX
Australia’s Prime Minister said that there is a possible deal that might be made with Australia taking more US beef. If they do, the US will need to guarantee the beef is free of any disease from BSE to New World Screwworm as well as no feed additives, hormones and growth stimulants not allowed. The same rules as Australian cattle and beef. The deal will also be tied to the products Australia buys from the US.
PORK COMPLEX
Lean Hog volume was moderately active Friday. However, this rally is bear spread.
Pork prices continue to move higher. The 5 day average pork carcass prices was up $3.93 from the previous week . Sales were light. Exports are strong . With run away high beef prices, the cheaper pork is seeing better pricing compared to beef and in some areas chicken.
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